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About to pull the trigger on my first Porsche. I have my eyes on a Targa 4S with most of the options people would want (Sport chrono, PSE, BOSE, etc.) I am planning to close out at $102,000. The targa was $140,000 new, so it is still at 70% value after nearly 8 years (2015). I'm afraid these cars are going to fall off a cliff, given that Carrera 4S Coupe and Cabs are trading for $10-15K lower already.
Anyone have any thoughts/ perspective on recent and upcoming market trends?
Just buy the car and enjoy it if you like it. I bought my 2015 6 years ago with 800 miles on it (MSRP $181K with asking price of $139K). It has now 55K miles on it and will have a ton more before I would even consider selling it. These are not speculative (or other) investments with exception of special or ultra high end variants sitting in collections.
None of us has one of these that works:
Last edited by shammerman; 05-07-2023 at 10:36 PM.
When I was somewhat in the market for a 911 in 2021, I kept going back and forth on whether I should wait or not to possibly get a better deal later on. In June of that year, a Aqua Blue metallic 991 with low miles and a just about every option I could want fell on lap to buy. It was priced at $82k which was higher than what similar 911s were priced at previously.
I ended up pulling the trigger. But for the next few weeks, I kept my eye on the market to see if prices would fall thinking maybe I had made a mistake. Fast forward 2 years, prices are still somewhat strong and I’ve put a lot of memorable miles on the car.
My point is, if you find the car that checks all the boxes for what you’re looking for and is within your reasonable price point, don’t focus on what prices may look like down the road. Enjoy the car.
Last edited by boywonder77; 05-07-2023 at 10:45 PM.
Vast majority of assets are dropping value including luxury goods such as cars. With rates going up, the Porsche market will continue to go downwards. I’m on the search for my first Porsche and won’t hesitate to pull the trigger for the right spec but I’m not in a rush as I believe the market will continue to soften. But to everyone’s point, are you gonna remember overpaying by 10-20 percent in the long term?
We have had our ‘15 Targa 4S almost two years and the price has done nothing but increase. Twenty thousand miles later, we could sell for a profit. The base price for a new one is now $ 151,400, well optioned it is almost $190K. You will never regret pulling the trigger imo, at any price. Just don’t let the Porsche Police get you with the top up!
Thanks all. Point taken. This car I found i specc’d as if I had ordered it myself. Will pull the trigger in the AM.
Only option missing is the manual, but I’ll have to live with the solid PDK!
How many miles?
There's a big difference between PDK and Manual. Be careful giving up that "option". Leather sunvisors vs plastic sunvisors is an option you can overlook. I don't know if i would call Manual an option.... Pretty much changes the driving experience. Not saying one is better than the other, but if you're looking for a manual experience, it's hard to gloss over that and accept a PDK.
There's a big difference between PDK and Manual. Be careful giving up that "option". Leather sunvisors vs plastic sunvisors is an option you can overlook. I don't know if i would call Manual an option.... Pretty much changes the driving experience. Not saying one is better than the other, but if you're looking for a manual experience, it's hard to gloss over that and accept a PDK.
About 25,000.
I know... Manuals are so romantic. If this car was a manual, it would truly be my soulmate. However, it's got everything else I've been looking for in terms of look, sound, price and certified. Also, launch control is extremely fun
My benchmark right now is if I were faced with a situation where I needed to buy a brand new 911 spec'd approximately like mine, that would cost me $195k CAD (911 T, even though I have a 991.1 S as the T is the only non-GT 911 I'd even consider).
Even if my 991.1 is only worth $50k in 10 years, I'm still ahead by at least $50k in my estimation.
OP - have to give you credit, one of the mistakes new users make when posting and asking about values, a car he or she wants to buy, etc., is they include the link to the car. Sure, a little searching and one could possibly find the car, but often folks will post about a car that's a strong deal and someone else will swoop in and grab it. Not stating this to put more pressure on you, but it happens. Nevertheless, if the car checks out via PPI and meets what you want, it appears to be well priced. Good luck!
70% of MSRP is a fair price / even a good price if I dare day given the relatively low mileage and the options (Sport Chrono namely). I often check prices of 991.1 Targa GTS in Europe (only PDKs, no MT to be found), most of them are between 90% of MSRP or over MSRP (not adjusted for inflation) with mileage up to 32k miles.
991 Targas depreciate much less than the Carreras.
If you really want a manual, you will need to wait and pay a steep premium.
Pre-pandemic prices that I kept track of showed a 4 year old 911 retailing for about 75% of original MSRP. 6 year old 911 fell to about 62%. Now, people are feeling great about paying original MSRP or slightly more for a 4-5 year old car...nuts!
Given the crazy market, your find seems to be in the correct ballpark. Good luck!
05-07-2023, 10:10 PM
Targa 4S Value --- In for a drop?
